XRP/USD are trading at 0.2443 and continue to move as part of the decline. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $10 830 475 370. Moving averages indicate the presence of a short-term downward trend for Ripple. Prices are below the signal line area, which indicates pressure from sellers. At the moment, we should expect an attempt to grow a digital asset and a test of the resistance level near the 0.2615 area. Further, the continued fall of cryptocurrency to the area below the level of 0.1835.
Ripple Forecast and XRP/USD Analysis November 20, 2019
In favor of reducing the XRP/USD quotes, a test of the downward trend line on the relative strength index (RSI) will come out. The second signal in favor of falling asset quotes will be a rebound from the lower boundary of the ascending channel. Cancellation of the option of falling cryptocurrency will be a strong growth and closing of quotations above the level of 0.3065. This will indicate a breakdown of the resistance area and continued growth of XRP/USD to the area above the level of 0.3325. A confirmation of the fall in the digital currency will be a breakdown of the support area and closing below the level of 0.2145. In this case, we should expect acceleration of the development of the downward trend of Ripple.
Ripple Forecast and XRP/USD Analysis November 20, 2019 suggests an attempt to test the resistance level near the 0.2615 area. Where can we expect the cryptocurrency to continue to fall with a potential target at 0.1835. An additional signal in favor of reducing Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling quotes will be a strong growth and a breakdown of the area of 0.3065. In this case, we should expect continued development of growth in digital currency with a target above 0.3325.
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